Implementing an information technology (IT)-led innovation project involves exploring the feasibility of transforming an idea into a profitable product or service. Such exploration may necessarily require the execution of one or more research projects. In this context, organizations are often faced with a complex choice of having to strategically select an IT-led innovation project from a pool of competing projects, each of which may in turn require a selection amongst research projects. Typically, organizations will make such choices using a single-tier approach—that is, they will select an IT-led innovation project without fully considering or selecting the optimal associated research projects. The lack of a rigorous, integrated methodology by which such multi-tiered projects can be evaluated can result in a sub-optimal choice leading to lost opportunity costs.